FG To Increase VAT From 5 to 7.2 Percent

FG To Increase VAT From 5 to 7.2 Percent

12.9.2019

FG To Increase VAT From 5 to 7.2 Percent.

FG To Increase VAT From 5 to 7.2 Percent

The Federal Government has said that consultations will begin at all levels on the review of the Value Added Tax, (VAT) from 5 per cent to 7.2 per cent

“We will begin consultations and consultations will be at various levels in the country. So it includes consultations with the states, with the local governments, with the parliament as well as with the Nigerian public. For the VAT increase to take effect, there has to be an amendment to the VAT Act,” she said.

Mrs Ahmed who spoke on the bailout funds issued to states by the Central Bank of Nigeria said it wasn’t a grant but that it was meant to be refunded.

Read more: Channels Television

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